N15.5bn Debt Judgement: Court Summons Police, Ponzi Scheme Operator

Justice Toyin Oyekan-Abdullahi of the Lagos State High Court in Ikoyi on Thursday summoned an Investigative Police Officer (IPO), Inspector Mohammed Aliyu for failing to produce an alleged Ponzi scheme operator, Bamise Ajetunmobi before the court.

Justice Oyekan-Abdullahi had on Wednesday directed the police to produce Ajetunmobi, who allegedly fled the country after duping investors of N18.8 billion to enable 17 judgment creditors to examine him on his means to pay back the judgment debt of N15.5 billion awarded against him and his wife Elizabeth.

But at the resumed hearing of the Garnishee proceedings yesterday, the police from Force Criminal Investigation and Intelligence Department (FCIID) Alagbon were absent, while the defendant was also not produced.

Justice Oyekan-Abdullahi, who was irked by the action of the police, warned of the consequences of their actions.

The judge stated, “He (Ajetunmobi) is not here. I have even asked my orderly to check with his colleagues to find out whether they are having challenges bringing him to court. Up till now, nothing! They have disrespected the court by not coming.

“The third Judgement Debtor, the AIG and the IPO are all in contempt of court. Are they larger than the law? The IPO has to be present in court at the next adjourned date. He has to tell the court why he didn’t come. He is contemptuous of the court, and he has to face the music. If he loves himself, he better come to court tomorrow with the third judgment debtor,” the judge ruled.

The couple, alongside two firms linked to them, Imagine Global Holding Company Limited and Imagine Global Solutions Limited, were in October 2021 accused of defrauding some Nigerian investors of over N18.8 billion.

The whereabouts of the defendants were unknown for some time. But following reports of Bamise’s arrest in Côte d’Ivoire and his detention by the Nigerian Police, counsel to the judgment creditors, Adetunji Adedoyin-Adeniyi, filed a motion ex parte to compel his appearance in court.

In July 2022, the investors obtained a court judgment in their favour, ordering the couple and their companies to pay back N15,541,350,000 with interest.

During Thursday proceedings, Adedoyin-Adeniyi made an application under Section 68 of the Sheriff & Civil Process Act for the judge to issue a bench warrant on the third judgment debtor, Bamise Ajetunmobi, for his failure to attend court.

Adedoyin-Adeniyi said, “I humbly wish to make an application that the court issue a warrant of arrest against the third judgment debtor, Bamise Ajetunmobi and for the police to ensure he is remanded in prison until the next adjourned date.”

Counsel to one of the judgment creditors, Kolade Olawuni, supported the application.

But Ajetunmobi’s counsel, Olakunle Nathan-Marsh, said his client is being held under a court order.

Adedoyin-Adeniyi, however, objected to the lawyer’s appearance, arguing that the matter is a motion ex-parte and Nathan-Marsh could only be seen and not heard.

He added that Bamise Ajetunmobi is a court witness the judge has summoned to answer questions on whether he can pay the judgment debt.

“There is no charge against him (Ajetunmobi) in any court of law. No appeal against the court’s judgment. He should be remanded in Ikoyi Correctional Centre until the next court sitting,” Adedoyin-Adeniyi added.

The court also ordered Fidelity Bank to comply totally with the Order on the Garnishee proceedings.